AlexRes

This thread is old but I’m hoping some of you are still following. Does the 12 month look back period apply to loans taken out of different plans obtained through different employers? specifically, I had a loan of roughly $35,000 at this time last year at a previous employer. I left employer A in May and paid off the outstanding loan balance. I’m now working for employer B and am rolling over the balance of my prior plan (roughly $200,000) into employer B’s 401(k). If I want to take out a new loan from this different plan, is the most I’m eligible for $50,000 OR is it $50,000 - $35,000 = $15,000. All the examples I’m seeing that cite the tax code referring to taking out new plan loans when you’ve had an outstanding balance within the past 12 months on a prior plan loan make me wonder if it’s specific to loans literally taken out against your retirement savings in ONE particular plan (I.e. only plans from one employer) or is “plan loan” being used in a more generic sense and the limits of loans requested against my new retirement plan with employer B are subject to a 12 month lookback on loans I’ve had against any retirement plan, including those from a previous employer? I’m not a financial expert so my apologies if this doesn’t make sense or seems like a foolish question.